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Alpha Lipoic Acid Market Research Report Information By Product Type (R Alpha Lipoic Acid And S Alpha Lipoic Acid), By Application (Dietary Supplements, Cosmetics, Pharmaceuticals, And Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/CnM/20578-HCR | 128 Pages | Author: Anshula Mandaokar| June 2024

Global Alpha Lipoic Acid Market Overview

Alpha Lipoic Acid Market Size was valued at USD 905.8 Billion in 2023. The Alpha Lipoic Acid industry is projected to grow from USD 958.3 Billion in 2024 to USD 1422.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.80% during the forecast period (2024 - 2032). The rising market for nutritional supplements and growing consumer preference for better diets for their dogs are the key market drivers enhancing the market growth.

Alpha Lipoic Acid Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Alpha Lipoic Acid Market Trends

  • Increasing Demand for Antioxidant Supplements Drives Market Growth

The primary driver drives market CAGR for the increased demand for antioxidant supplements in the alpha lipoic acid market is people's growing awareness of health and wellness. As more people become aware of the benefits of antioxidants in countering oxidative stress and boosting overall well-being, the demand for supplements containing alpha lipoic acid, a potent antioxidant, increases. Additionally, factors such as the aging population, lifestyle changes, and the incidence of chronic diseases all contribute to market growth. Manufacturers are also inventing and releasing new products to match the rising demand for antioxidant supplements, which is boosting market growth even further. This spike in demand for alpha lipoic acid supplements is projected to drive market growth in the coming years.

Another important factor driving the market expansion for alpha lipoic acid supplements is the growing interest in nutraceuticals and functional foods. Nutraceuticals are food-derived products with additional health advantages, whereas functional foods give health benefits beyond basic nutrition. As consumers become more health-conscious and seek natural ways to improve their well-being, the demand for nutraceuticals and functional foods, such as those containing alpha lipoic acid, is increasing. The increasing awareness of the possible health benefits of adding these items to regular diets is a major factor driving market growth.

Also, the widespread use of ALA in skincare and cosmetic products is due to its anti-inflammatory and antioxidant properties, which are thought to promote skin health. It is employed in a variety of skin-enhancing compositions because of its capacity to improve skin texture, reduce the visibility of fine lines and wrinkles, and provide an overall healthy appearance. The skincare industry's rising emphasis on natural and beneficial ingredients has boosted research into alpha lipoic acid's potential benefits in topical applications. Thus, driving the Alpha Lipoic Acid Market revenue.

Alpha Lipoic Acid Market Segment Insights

Alpha Lipoic Acid Product Type Insights

The Alpha Lipoic Acid Market segmentation, based on Product Type, includes R Alpha Lipoic Acid and S Alpha Lipoic Acid. The R Alpha Lipoic Acid sector generated the most revenue over the projection period in 2023. The use of R Alpha Lipoic Acid for diabetic neuropathy therapy and heart-related disorders is a major global market trend. The rise in energy-dense diets and physical inactivity has increased the number of diabetes patients, and R Alpha Lipoic acid is frequently used in neuropathy treatment to alleviate pain, numbness, and paresthesia.

Alpha Lipoic Acid Application Insights.

The Alpha Lipoic Acid Market segmentation, based on Application, includes Dietary Supplements, Cosmetics, Pharmaceuticals, and OthersAccording to the prediction, the pharmaceutical segment will dominate the global market in 2023. Alpha-lipoic acid is a medication used to treat diabetic neuropathy. It has been shown to reduce pain, paresthesias, and numbness while also improving insulin resistance. It alleviates symptoms, including tingling, discomfort, and pricking in diabetic patients' legs and feet. Additionally, it protects the retina from damage caused by high blood sugar levels.

Figure 1: Alpha Lipoic Acid Market by Application, 2023 & 2032 (USD Billion)

Alpha Lipoic Acid Market by Application, 2023 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Alpha Lipoic Acid Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. North America has dominated the Alpha Lipoic Acid Market due to increased public awareness and knowledge of alpha lipoic acid's health benefits, a strong presence of suppliers and manufacturers in the region, and a well-established market for nutritional supplements. North America's emphasis on wellness and nutraceuticals has contributed to the region's growing popularity of ALA supplements.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea.

Figure 2: Alpha Lipoic Acid Market Share By Region 2023 (USD Billion)

Alpha Lipoic Acid Market Share By Region 2023

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Alpha Lipoic Acid Market accounts for the second-largest market share because of the rising use of Alpha Lipoic Acid in the pharmaceutical and healthcare industries, as well as the popularity of online shopping among people due to improved health and fitness awareness. Further, the German Alpha Lipoic Acid Market held the largest market share, and the UK Alpha Lipoic Acid Market was the fastest-growing market in the European region.

The Asia-Pacific Alpha Lipoic Acid Market is expected to grow at the fastest CAGR from 2024 to 2032. The growing cosmetic and pharmaceutical industries in countries like China and India have raised the demand for alpha-lipoic acid. China, the world's second-largest cosmetics consumer market (behind the United States), has reported a surge in demand for alpha-lipoic acid for use in anti-aging, sun protection, and other applications. Moreover, China’s Alpha Lipoic Acid Market held the largest market share, and the Indian Alpha Lipoic Acid Market was the fastest-growing market in the Asia-Pacific region.

Alpha Lipoic Acid Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Alpha Lipoic Acid Market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Alpha Lipoic Acid industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Alpha Lipoic Acid industry to benefit clients and increase the market sector. In recent years, the Alpha Lipoic Acid industry has offered some of the most significant advantages to medicine. Major players in the Alpha Lipoic Acid Market, including AlzChem Group AG, GeroNova Research Inc., Haihang Industry, HiMedia Laboratories, NOW Foods, Olon S.p.A., and others, are attempting to increase market demand by investing in research and development operations.

Kyowa Kirin Co., Ltd. is a Japanese pharmaceutical and biotechnology firm owned by Kirin Holdings that ranks among the world's top 40 in terms of sales. The corporation is located in Chiyoda-ku, Tokyo, and is part of the Nikkei 225 stock index. In February 2023, Kyowa Hakko Bio, a worldwide ingredients company with a primary focus on providing health solutions, released "ALA-ST," a revolutionary alpha lipoic acid product. The content of Alpha lipoic acid in ALA-ST is stabilized, making it less likely to break down.

Factor is a Canadian family-owned firm with its headquarters in British Columbia. We have been in operation for almost 50 years and maintain consistent standards through thorough quality control testing in our laboratories, which are among the best in North America. From organic herbal farming in the Okanagan to cutting-edge manufacturing operations in British Columbia and Washington State (USA), we maintain consistent standards. In March 2023, Natural Factors, one of the major manufacturers of nutritional products in North America, released a new supplement called "Alpha Lipoic Acid 600 mg." Alpha Lipoic Acid 600 mg is a high-potency alpha lipoic acid

Key Companies in the Alpha Lipoic Acid Market include

  • AlzChem Group AG

  • GeroNova Research Inc.

  • Haihang Industry

  • HiMedia Laboratories

  • NOW Foods

  • Olon S.p.A

  • Rexall Sundown Inc.

  • Source Naturals Inc.

  • Suzhou Fushilai Pharmaceutical Co. Ltd.

  • Wellona Pharma

Alpha Lipoic Acid Industry Developments

In January 2023, Indena, the world's leading firm committed to the identification, development, and production of high-quality active principles derived from plants, launched a new alpha lipoic acid supplement called "ALA Pure." ALA Pure contains alpha lipoic acid, an ultra-purified version obtained from sunflower seeds.

In February 2021, GNC announced a collaboration with Walmart for a line of GNC-specific items.

Alpha Lipoic Acid Market Segmentation

Alpha Lipoic Acid By Product Type Outlook

  • R Alpha Lipoic Acid

  • S Alpha Lipoic Acid

 Alpha Lipoic Acid By Application Outlook

  • Dietary Supplements

  • Cosmetics

  • Pharmaceuticals

  • Others

Alpha Lipoic Acid Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size 2023 USD 905.8 Billion
Market Size 2024 USD 958.3 Billion
Market Size 2032 USD 1422.0 Billion
Compound Annual Growth Rate (CAGR) 5.80% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2019- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product Type, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea
Key Companies Profiled  AlzChem Group AG, GeroNova Research Inc., Haihang Industry, HiMedia Laboratories, NOW Foods, Olon S.p.A, Rexall Sundown Inc., Source Naturals Inc., Suzhou Fushilai Pharmaceutical Co. Ltd., Wellona Pharma.
Key Market Opportunities ·         Rising Interest in Nutraceuticals and Functional Foods.
Key Market Dynamics ·         Increasing Demand for Antioxidant Supplements

Frequently Asked Questions (FAQ) :

The Alpha Lipoic Acid Market size was valued at USD 905.8 Billion in 2023.

The global market is projected to grow at a CAGR of 5.80% from 2024 to 2032.

North America had the largest share in the global market.

The key players in the market are AlzChem Group AG, GeroNova Research Inc., Haihang Industry, HiMedia Laboratories, NOW Foods, and Olon S.p.A, among others.

The pharmaceutical category dominated the market in 2023.

The R Alpha Lipoic Acid category had the largest share of the global market.

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